Ahead of a speech at the fashion retail Academy London, the secretary said that numerous companies are already suspending hiring decisions while they wait for the outcome of the vote this coming June.

“As we saw from the recession that we’ve just been through, the people who suffer most are the youngest. Those who are trying to get into jobs and careers will suffer if companies and organisations are not hiring,” she said in a statement to the press.

Mrs. Morgan said there had already been a decrease in available jobs because of employers’ fears that the UK might leave the European Union.

“It’s clear, that if Britain leaves Europe it will be young people who suffer the most, left in limbo while we struggle to find and then negotiate an alternative model. In doing so we risk that lost generation becoming a reality,” she said.

“And everyone who casts their vote must understand that. If parents and grandparents vote to leave, they’ll be voting to gamble with their children and grandchildren’s future. At a time when people are rightly concerned about inter-generational fairness, the most unfair decision that the older generation could make would be to take Britain out of Europe and damage the ability of young people to get on in life.”

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448 British manufacturers have been surveyed in the Industrial Trends Survey from the CBI. 26% of those asked said that their order totals have been below normal while 19% said that their order volumes increased. This comes down to 7% less exports amongst British manufacturers as compared to 5% back in April. This is the lowest registered number in two years.

The reasons given for the poor export performance by British manufacturers are lower export orders. While this number improved to -7% back in May, the negative balance fell further back to -17% in June.

CBI’s director of economics Rain Newton-Smith in a public statement:” “Output and overall orders are still doing better than average but hopes that export demand would start to drive forward have not yet been fulfilled.Improving momentum in the eurozone is being offset by the effect of the strengthening pound on UK manufacturers’ overseas sales and margins.”

The director is urging the British government for more support for struggling British exporters.

At the same time, the Cole Commission which had been put in place last year also urges the British government for more supportive measures to stimulate the nation’s export growth. Several priority areas are highlighted by the commission to achieve this goal, among them a cabinet-level committee to drive exports.